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Abdullah Afzal at Daniyal (Big Data)

Big data analytics involves examining large amounts of data to uncover hidden patterns and correlations to make informed business decisions. While businesses have long analyzed collected data, modern big data systems allow for faster, more efficient analysis at lower costs. This provides a competitive advantage through speedy decision making. Real-world examples of big data use include Coca-Cola using a digital loyalty program to strengthen customer retention and Netflix using subscriber data to target personalized advertising. Big data also drives innovation by helping companies redevelop products based on insights from large amounts of customer data.

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Abdullah Afzal
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52 views2 pages

Abdullah Afzal at Daniyal (Big Data)

Big data analytics involves examining large amounts of data to uncover hidden patterns and correlations to make informed business decisions. While businesses have long analyzed collected data, modern big data systems allow for faster, more efficient analysis at lower costs. This provides a competitive advantage through speedy decision making. Real-world examples of big data use include Coca-Cola using a digital loyalty program to strengthen customer retention and Netflix using subscriber data to target personalized advertising. Big data also drives innovation by helping companies redevelop products based on insights from large amounts of customer data.

Uploaded by

Abdullah Afzal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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what is the role of big data in marketing/digital marketing

Big data analytics involves examining large amounts of data. This is done so as to uncover the
hidden patterns, correlations and also to give insights so as to make proper business decisions.
Basically, organizations have realized the need for evolving from a knowing organization to a
learning organization. Essentially, businesses want to be more objective and data-driven, and so
they are embracing the power of data and technology.

The big data concept has been around for many years. Decades before the first mention of big
data, businesses applied analytics on the data they collected so as to gain insights and uncover
trends. This involved capturing numbers on a spread sheet and manually examining the numbers.

Big data analytics is done using advanced software systems. This allows businesses to reduce the
analytics time for speedy decision making. Basically, the modern big data analytics systems
allow for speedy and efficient analytical procedures. This ability to work faster and achieve
agility offers a competitive advantage to businesses. In the meantime, businesses enjoy lower
cost using big data analytics software.

Organizations have invested in big data analytics. Think of a business you know that depends on
quick and agile decision to remain competitive. In this article, we give five real-world examples
of how big brands are using big data analytics. Keep reading to gain more insights.

#1 Using Big Data Analytics to Boost Customer Acquisition


and Retention
The customer is the most important asset any business depends on. There is no single business
that can claim success without first having to establish a solid customer base. However, even
with a customer base, a business cannot afford to disregard the high competition it faces. If a
business is slow to learn what customers are looking for, then it is very easy to begin offering
poor quality products. In the end, loss of clientele will result, and this creates an adverse overall
effect on business success.

Example of a Company that uses Big Data for Customer Acquisition and Retention

A real example of a company that uses big data analytics to drive customer retention is Coca-
Cola. In the year 2015, Coca-Cola managed to strengthen its data strategy by building a digital-
led loyalty program. Coca-Cola director of data strategy was interviewed by ADMA managing
editor. The interview made it clear that big data analytics is strongly behind customer retention at
Coca-Cola. Below is an abstract of the full interview on what Coca-Cola had to say about the
role of big data in achieving customer retention.

#2 Use of Big Data Analytics to Solve Advertisers Problem


and Offer Marketing Insights
Big data analytics can help change all business operations. This includes the ability to match
customer expectation, changing company’s product line and of course ensuring that the
marketing campaigns are powerful. Let’s face the naked truth here. Businesses have lost millions
spent in running advertisements that are not fruitful. Why is this happening? There is a high
possibility that they skipped the research phase.

Example of a Brand that uses Big Data for Targeted Adverts

Netflix is a good example of a big brand that uses big data analytics for targeted advertising.
With over 100 million subscribers, the company collects huge data, which is the key to achieving
the industry status Netflix boosts. If you are a subscriber, you are familiar to how they send you
suggestions of the next movie you should watch. Basically, this is done using your past search
and watch data. This data is used to give them insights on what interests the subscriber most. See
the screenshot below showing how Netflix gathers big data.

#3 Big Data Analytics as a Driver of Innovations and


Product Development
Another huge advantage of big data is the ability to help companies innovate and redevelop their
products. Basically, the big data has become an avenue for creating additional revenue streams
through enabling innovations and product improvement. Organizations begin by correcting as
much data as would be technically possible before designing new product lines and re-designing
the existing products.

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